Market Summary Article

S&P/TSX Composite Index

S&P/TSX Venture Composite Index

Stock futures pointed to a higher opening for Canada's main stock index on Monday as oil prices rose, supported by a North Sea pipeline outage and a Nigerian oil workers strike.

The S&P/TSX Composite Index gained 25.52 points to end Friday and the week at 16,041.98

The Canadian dollar acquired 0.03 cents to 77.7 cents U.S. Monday morning.

December futures brightened 0.4% Monday.

A joint venture between Bombardier Inc and China's CRRC Corp Ltd has won a 1.79-billion-yuan ($270.76-million U.S.) contract to build a monorail line for a Chinese city.

Canadian oil producers are running out of options to get crude to market as pipeline and rail capacity fills up, driving prices to four-year lows and increasing the risk of firms having to sell cheaply until at least late 2019.

Northern Dynasty Minerals, owner of the Pebble copper-gold project in Alaska, said rival First Quantum Minerals acquired an option to buy half of the project for $1.5 billion.

BMO cut the rating on NewCastle Gold to market perform from outperform

On the economic front, Statistics Canada said Canada's International Transactions in Securities totaled $20.8 billion in October, led by record acquisitions of Canadian bonds. At the same time, Canadian investors increased their holdings of foreign securities by $16.5 billion, mainly purchases of U.S. shares.

ON BAYSTREET

The TSX Venture Exchange gained 3.03 points Friday to 800.9

ON WALLSTREET

U.S. stock index futures are set for a strong positive open on Monday, on the back of optimism surrounding an overhaul of the U.S. tax system.

Futures for the Dow Jones Industrials sprinted 148 points, or 0.6%, to 24,825

S&P 500 futures gained 10 points, or 0.4%, to 2,692, while futures on the NASDAQ Composite index picked up 31.75 points, or 0.5%, to 6,530.50

In earnings, Heico is set to release financial figures after the bell.

At 8:30 a.m. ET, the Business Leaders survey was due out, followed by the NAHB/Wells Fargo Housing Market Index, set to be published at 10 a.m. ET.

Another area that's shaking up market sentiment is the moves in bitcoin. On Sunday the world's largest futures exchange, CME, launched its own bitcoin futures contract, using the ticker "BTC."

On Friday, Republicans released their final proposal to overhaul the American tax system, which would slash corporation taxes, while trimming rates for individuals and modify tax deductions. The House and Senate GOP are looking to pass the measure this week.

Expectations that the tax bill will be approved boosted U.S. stocks on Friday, with the major indexes closing at all-time highs.